NZ dollar slips as better US economic data buoys greenback

Thu, 28 Aug 2014

By Tina Morrison Aug. 29 (BusinessDesk) - The New Zealand dollar slipped as the US dollar edged up following better-than-expected US economic data which lifted optimism about a recovery in the world's largest economy. The kiwi weakened to 83.82 US cents at 8am in Wellington, from 83.91 cents at 5pm yesterday. The trade-weighted index was at 79.01 from 79.06 yesterday. The US dollar index, which measures the greenback against a basket of currencies, rose overnight after a report showed the US economy expanded at a 4.2 percent annual rat...

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